Shanghai RAAS Blood Products

History

2024: Haier купил 20% Shanghai RAAS Blood Products

On January 14, 2024, Spanish pharmaceutical company Grifols announced the sale of a 20 percent stake in Shanghai RAAS Blood Products to Chinese home appliance manufacturer Haier Group. The transaction amount is approximately €1.6 billion.

China's Shanghai RAAS Blood Products specializes in the production of blood products. At the same time, Grifols owns a 26.58% stake in this company. The deal with Haier is very important for Grifols: the resulting funds will be used to partially repay the accumulated debt, which at the end of the third quarter of 2023 is approximately €9.54 billion. According to experts, the sale of 20% in Shanghai RAAS Blood Products will allow Grifols to reduce debt by about 16%. The deal is scheduled to be completed in the first half of 2024 after obtaining the necessary approvals from regulators.

Shanghai RAAS Blood Products Headquarters

Grifols announced the formation of a strategic alliance with Haier in late December 2023. Then it was said that cooperation would help in the development of China's health care system. Grifols will have a 6.58 per cent stake in Shanghai RAAS Blood Products and a seat on that company's board after the transaction. The transaction is planned to be carried out at the expense of funds.

China remains the backbone of our growth strategy and we are extremely excited to form an alliance with Haier. Through this collaboration, we will be able to continue to support the needs of the PRC health care system and offer patients innovative medicines and diagnostic solutions, "says Raimon Grifols, Chief Corporate Officer of Grifols.

Under the terms of the agreement, Grifols and Haier undertake not to sell any portion of their shares in Shanghai RAAS Blood Products for three years after the completion of the transaction.^[1]

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